“What tax forms do you need for FAFSA?” you may ask. The government crucially looks into a lot of information about all applicants of FAFSA (or the Free Application for Federal Student Aid). And this includes asking for an applicant's (or their parents') tax income details. Because of this, proper compliance with certain tax declaration rules is an assurance of getting admitted … [Read more...]
Review: 401(k) Tax Calculator
Anyone who's looking forward to saving for retirement will be needing a 401(k) tax calculator. Understanding the 401(k) tax plan may come a bit complicated, especially if it's time to choose what tax plan to get or how much 401(k) contributions you should give. Luckily, there are now a lot of 401 tax calculators readily available on the internet for easy computation and … [Read more...]
How to Calculate Payroll Taxes?
Calculating payroll taxes can be a difficult task for a small business owner. It means total wage expenses for the employer and net income for the employee, among others. You have to know what payroll taxes include to ensure you make the right calculations. State and federal payroll taxes, social security taxes, and health insurance taxes. Payroll Taxes: A Step-by-step … [Read more...]
What Free Tax Preparation Software Is the Best?
If you want to get started on doing your taxes, but not really good at all the number crunching, then free tax preparation software is the perfect thing for you. But hold on, there’s a lot of those floating around on the internet! Don’t worry, we’ve compiled a list of what we think are the best in the biz. The 6 Best Free Tax Preparation Software 1. TaxAct Don't … [Read more...]
What Tax Forms Do I Need to File for an LLC?
"What tax forms do I need to file for an LLC?" This question appears as a usual concern for those who set up an LLC (or a limited liability company). According to the Internal Revenue Service (IRS), LLC tax filing requirements are based on the company’s classification and number of members. Here's a rundown of the classifications provided by IRS, and the corresponding tax forms … [Read more...]